Category: Reading Notes

It’s the feeling that something can still go up, and keep going up endlessly, that makes you buy even at the peak—willing to pay a premium.

The liar knows you’re buying the top; you don’t know it yourself. You truly believe it’ll reach the sky.

Similarly, the lie makes you believe it can fall endlessly lower, so you sell your chips at bargain prices.

And in the space of a single tide, your wealth transfers to the liar.

It's about increasing the number of times you take action when market conditions align with your strategy, and reducing the number of times you act when they don't.

The key is frequency.

Turn difficulties into problems, turn problems into opportunities, turn opportunities into profits, turn profits into experience, and turn experience into the starting point for the next opportunity.